TAS/EDE relative values, page-133

They (TAS) risk it because TAS is primarily a mining company. Eden was a side venture through the purchase of Noble Energy. Just because they have assets to sell, doesn't mean they are going to sell them to produce income.

You are delusional if you think TAS does not have a cash flow problem. They might have $3.6million in possible option converisons, but that is not a guaranteed income stream. For all we know and history of other stocks show us that the majority (I would hazard a guess of 80%+) of options will be converted in 2018, not 2017. From that $3.6M option converison cash, $3.0M will be needed to convert their own EDEO's leaving 600K.

So for TAS to run a business off 580K from 1 Nov to 1 Jan 18 without any other sources of income coming in, you would definitely say TAS does not have cash flow. Currently TAS does about 200K per quarter and at current rates we are on track for about a August 17 cash deficit give or take a month or two from possible option conversion cash income.